Renewable Energy: Investment

(asked on 5th March 2024) - View Source

Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what assessment her Department has made of the potential impact of her net zero policies on trends in the level of investment in renewable energy.


Answered by
Andrew Bowie Portrait
Andrew Bowie
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 11th March 2024

Government continues to support investment in renewables, as demonstrated in the Spring Budget announcement, where it confirmed the biggest ever budget for the Contracts for Difference Allocation Round 6, at £1,025 million.

Additionally, Government announced an increase of up to £120 million to the £960 million Green Industry Growth Accelerator fund, further supporting the development of Wind and Networks manufacturing supply chains across the UK. These announcements reinforce efforts to reduce network connection times and make investment tax measures permanent. Since 2010, renewables support has attracted around £120 billion of new investment, alongside around £80 billion of UK levy-funded support.

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